November 7, 2017 |
Oi said it will pitch a BRL7.1bn ($2.2bn) capital increase into its latest restructuring proposal, comprising a BRL3.5bn cash injection and BRL3.6bn debt-for-equity swap.
The Brazilian telecom said in a securities filing that bondholders, which participated in the capital increase would receive a 6% fee based on their contribution, plus annual fees of 8%.
In the Monday securities filing, Oi said it's latest proposal had gained approval from Bank of America Merrill Lynch, Goldman Sachs, Morgan
Brazilian telecom says recovery plan may include a $2.2bn cash, debt-for-equity swap